Elliott Wave Analysis of EURJPY

A new low could be counted as a small 5th wave to end an impulse wave from 133.46, that can then setup for a bounce thereafter in 3 waves, so watch for a potential reversal from below 129.80. A bounce in 3 waves would offer a setup to sell against 133.46 stops. The trend remains down against 133.46.

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The content of this website is for educational purposes only, the information supplied shall not be construed as a recommendation to buy or sell any security or financial instrument. Wavepatterntraders will not be held responsible for any losses occurring from the information provided within the website. The information expressed within the website is solely the opinion of the author/owner. Wavepatterntraders are not registered investment advisers. Members are strongly urged to consult an investment consultant before making any financial decisions or investments.

Futures trading in stocks, Forex and commodity markets carries a high level of risk and past results are not indicative of future performance, trading may not be suitable for everyone. Information supplied maybe copied or reproduced with the permission from the owner, providing that the full attribution is given to the original source and have the acknowledgment of wavepatterntraders.com or its owner.

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